Teva and Lonza form joint venture for development of biosimilars

Teva and Lonza will co-operate to develop, manufacture and market a number of affordable, efficacious and safe generic equivalents of a selected portfolio of biologic pharmaceuticals. Through this joint venture, Lonza and Teva said that they will bring together highly complementary capabilities that will significantly advance the partners’ efforts to secure a leading position in the emerging biosimilars market.

The joint venture is expected to commence activities during the first quarter of 2009, subject to receipt of any applicable regulatory approvals. Financial details of this agreement have not been disclosed.

The companies said that they will continue to assess their co-operation under the joint venture as both Teva and Lonza retain the ability to explore additional opportunities in the area of biosimilars beyond the scope of this partnership.

Shlomo Yanai, Teva’s president and CEO, said: We had identified biosimilars as a major growth driver for Teva in our long-term strategy and have been augmenting our knowledge base, capabilities and infrastructure to position Teva as a leader in this market.

This strategic partnership bolsters our biologics capabilities. Combined with Teva’s global leadership and expertise in clinical development and marketing of generic pharmaceuticals, the joint venture generates significant opportunities and benefits for both companies.